There are dozens of sit-down restaurants in a large city in dozens of locations. The best model to analyze this market is
A. oligopoly.
B. monopoly.
C. perfect competition.
D. monopolistic competition.
Answer: D
Economics
You might also like to view...
Money serves as a medium of exchange when:
A. it is a basic measure of economic value. B. it is a means of holding wealth. C. it is used to purchase goods and services. D. there is direct trade of goods and services.
Economics
Money as a medium of exchange
I. Facilitates the exchange of goods II. Reduces the incentive to barter A) I only B) II only C) Both I and II D) Neither I nor II
Economics
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the short run would be:
A. P3 and Y1. B. P2 and Y1. C. P2 and Y3. D. P1 and Y2.
Economics
Why do most exchanges in the United States occur by using money?
What will be an ideal response?
Economics